Date: 18th December 2011 at 7:23pm
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After initial doubts, it does look likely that Formula One will return to the United States of America in 2012.

Formula One has not returned to the States since the Indianapolis event was dropped from the calendar after the 2007 race.

At the cost of $250 million a brand new purpose built track in Austin, Texas is currently under construction and will be ready to host their first United States Grand Prix and will continue to do so until 2021.

Then from 2013, Formula One will head to New York City for the Grand Prix of America. With a 3.2-mile street circuit by the Hudson River in New Jersey, with the Manhattan skyline in the backdrop creating a truly stunning location.

But while its exciting for the fans of Formula One to have these new tracks on the F1 schedule, the real intention of heading to these new countries is purely financial.

Just as the reason behind heading to Asia for the first time in recent years and into India this season, Formula One has the potential to break into global markets, which is crucial for sponsors and manufacturers alike.

The Formula One brand is huge and to break into the American market has always been a target.

Having a race there is the first step and having two races there will be huge but there is a long way to go before F1 can compete with the likes of NASCAR and the IndyCar series.

‘We’ve got maximum two races in America, and when you consider the country is as big as Europe and we’ve got [eight] races in Europe, it’s difficult. If we had a lot more races there and a lot more television, it would be okay.’ Formula One boss Bernie Ecclestone told Al Jazeera as quoted by Sky Sports.

So Bernie doesn’t appear to sound too convinced that the new races will be enough to break the market so time will tell.

But what is certain is that Formula One has much less competition in other parts of the world, hence Bernie’s other expansion plans.

‘We’re going to be in Russia in 2014, South Africa, probably in 2013 even.’ he continued.